c.1965 Oklahoma Rancher W/ Pink Tiled Bath $59,900

Pros

• Very affordable housing. Recent data puts the mean value of housing units around $144K and median gross rent around $728, although individual properties vary substantially.
• Low overall cost of living. One recent estimate puts Erick’s cost-of-living index around 78, versus 100 nationally.
• Quiet and uncrowded. With only about 1,000 residents, you’re getting genuine small-town living rather than suburbia.
• Excellent highway access. I-40 runs immediately through town, making Erick unusually convenient for a community this small.
• Historic Route 66 character. The town has a genuine Route 66 identity rather than simply being near the highway.
• Some useful businesses right in town. Dollar General handles basic household/grocery needs, while C & K Quick Stop provides fuel and convenience items.
• 24/7 travel services. Love’s Travel Stop is right off I-40, with fuel, food, convenience items and EV charging. That’s a surprisingly useful amenity for a town this small.
• A few good local food options. Main Street Bakery & Cafe and Fresh & Dough pizza and Indian food give residents and travelers some local dining choices.
• Small school district. Erick Public Schools had only 174 students in 2024–25, which can be attractive if you prefer a very small-school environment.
• High homeownership. About 71% of occupied housing units were owner-occupied in the 2020 Census.
• Good for someone who wants inexpensive property without being completely isolated. I-40 makes reaching larger communities such as Elk City considerably easier than in many similarly priced rural towns.

Cons

• The local economy is weak. Median household income is relatively low, and recent data show a substantial poverty rate. City-Data reports 37.5% below the poverty line in 2024, although small-town estimates can be volatile.
• Very limited shopping. A Dollar General and convenience stores aren’t a substitute for a full supermarket. For a substantial grocery run, you’d likely head to a larger nearby community.
• Healthcare is limited. This is one of the bigger drawbacks if you’re older or have significant medical needs. More specialized care will require driving.
• Few local employment opportunities. I’d strongly prefer Erick for someone with remote income, retirement income, or a job elsewhere rather than someone depending on a broad local professional job market.
• Small real-estate market. This is important if you’re looking at Erick as an investment. A $50K–$100K house may be cheap, but the number of potential buyers is also small.
• Property appreciation is likely to be limited. I wouldn’t buy here expecting an Austin/OKC-style appreciation story.
• Severe-weather exposure. Western Oklahoma means heat, drought, thunderstorms, high winds and tornado risk. If you’re buying an older inexpensive house, insurance and the condition of the roof should be taken seriously.
• Not much nightlife or entertainment. If you want a lot of restaurants, shopping, bars, arts or cultural activities, Erick isn’t the place.
• Schools are tiny. The small enrollment can be a benefit, but it also means fewer course offerings, extracurriculars and specialized programs than a larger district.
• Population has been relatively stagnant/declining over the long term. Oklahoma Historical Society records show 1,052 residents in 2010 versus 993 in 2020.